Professionals in the technology or banking industries will have heard about bitcoin and blockchain by now. But they might not understand the distinction between the two. A recent webinar explained the difference — and outlined the likely future of each technology.
Large corporations such as IBM and Walmart are developing blockchain solutions that solve many issues with fraud. But, the blockchain is not a perfect tool, and without multifactor authentication, it is vulnerable to attacks.
Bitcoin and mobile wallets have the same issue essentially. While they are interesting tools, customers don't see a reason why they need to use them.
Marijuana is now legal in several states, but financial institutions currently do not allow their credit or debit cards to be used for purchasing cannabis. Thus, kiosk manufacturers are turning towards cash management solutions and bitcoin to provide secure payments for cannabis retailers.
Widespread uptake of bitcoin still sits off on the horizon, but some think that bitcoin ATMs could pave the road to Main Street.
"I anticipate significant developments in the use of bitcoin as well as the bitcoin ATM industry during the next three to five years," says Sam Ditzion of Tremont Capital Group.
Execs from Overstock.com, Massachusetts Division of Banks headline speaker lineup for Virtual Currency Today Summit
Conference, held April 29 in Boston, will explore the growing trend of consumers using bitcoin and other virtual currencies as a method of payment.
Most small and midsized companies are not ready, reports Software Advice; nor are major accounting-software suppliers taking bitcoin seriously.
"In a new area like this, with very complex issues, it's very important for regulators to listen and see where the regulations makes sense -- and course-correct where necessary."
Stand-alone vs POS systems, deciding on when to convert bitcoin into fiat, and more.
By accepting virtual currency, Waves Coffee House is seeking to drive traffic and further differentiate itself from competitors.
Three merchants discuss why they began accepting virtual currencies for payment – and how accepting bitcoin has changed their business.
Mark Ranta from ACI Worldwide believes bitcoin and its alternatives are here to stay, but how can they be regulated?
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